Dogecoin Targets $0.27 as Bullish Breakout Signals New Rally

Dogecoin (DOGE) may finally be shaking off its long consolidation period as technical and macroeconomic indicators align in its favor. After months of sideways movement, the meme coin has broken out of a descending channel, and bullish momentum appears to be building.

Technical Breakout and Elliott Wave Momentum
The breakout has been confirmed by a successful retest of the previous resistance, now turned support. Analysts suggest that DOGE is entering the fifth wave of an Elliott Wave cycle, with key targets at $0.196, $0.206, and $0.213. If DOGE breaks and holds above $0.185, it could trigger a strong rally toward the $0.27 resistance — and potentially higher.

Short-term support remains at $0.17. A drop below this level could delay the bullish scenario but is considered unlikely given the current shallow correction.

Macro Trends Fueling the Rally
A broader macroeconomic narrative is also forming: Dogecoin’s price appears to correlate with global M2 money supply (total global liquidity). When this indicator rises, DOGE tends to follow — particularly with a 110-day lag.

With global liquidity expanding again, Dogecoin may benefit from increased risk appetite in the crypto markets. If the trend continues through summer, DOGE could ride a new wave of momentum to multi-month highs.